Difference between revisions of "BattleBriefings"
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<span style="color: red;">Click on the <u>links</u> in the table below to go to specific chapters.</span> You can start with either Reserving or Pricing but you should do the chapters in order because later chapters depend on material from earlier chapters. When you want a change of pace, pick up one of the shorter readings for a break. Make sure you know all of the Top 5 and Core Content material really well. | <span style="color: red;">Click on the <u>links</u> in the table below to go to specific chapters.</span> You can start with either Reserving or Pricing but you should do the chapters in order because later chapters depend on material from earlier chapters. When you want a change of pace, pick up one of the shorter readings for a break. Make sure you know all of the Top 5 and Core Content material really well. | ||
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| + | || <span style="color: red;">'''Important Note:'''</span> The Ranking Table was originally based on an analysis of points-per-reading from past exams. This is no longer possible because exams have not been published since 2019-Fall and there have been very significant changes to the syllabus since then. The Ranking Table is now based roughly on the weights given in the syllabus, although that information is much less specific than what could be gleaned from past exams. It should still be helpful however in guiding your studying and directing your attention to the topics most likely to be tested. '''''(Percentages given in the table below are approximates.)''''' | ||
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===How to Use the Ranking Table=== | ===How to Use the Ranking Table=== | ||
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|| <span style="color: green;">'''Tip:'''</span> Here's another way to use the table to your advantage. If you have more time to study, read a higher ranked article that requires more concentration. Tired after a long day at work? Get a lower ranked article out of the way. ''[https://www.youtube.com/watch?v=S9jQDCnq2pQ Click here for more tips on how to use the ranking table.]'' | || <span style="color: green;">'''Tip:'''</span> Here's another way to use the table to your advantage. If you have more time to study, read a higher ranked article that requires more concentration. Tired after a long day at work? Get a lower ranked article out of the way. ''[https://www.youtube.com/watch?v=S9jQDCnq2pQ Click here for more tips on how to use the ranking table.]'' | ||
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Revision as of 21:45, 31 January 2023
Introduction
Exam 5 consists primarily of 2 source texts covering Reserving (Estimating Unpaid Claims), and Pricing:
- Estimating Unpaid Claims Using Basic Techniques, Friedland, J.F., , Casualty Actuarial Society, Third Version, July 2010.
- BASIC RATEMAKING, Fifth Edition, May 2016, Geoff Werner, FCAS, MAAA & Claudine Modlin, FCAS, MAAA
There are also several much shorter readings including: SOPs (Statements of Principle), ASOPs (Actuarial Standards of Practice), and appendices from Werner & Modlin. The Rank in the tables below indicates how frequently each topic has been asked on prior exams.
- "Top 5" chapters are the most heavily tested. "Top 5" and "Core Content" chapters together account for about 80% of the points on the exam.
- "Bottom 20%" and "Rarely Tested" chapters together account for about 20% of the points on the exam. "Rarely Tested" chapters appear rarely (or never) on the exam.
Click on the links in the table below to go to specific chapters. You can start with either Reserving or Pricing but you should do the chapters in order because later chapters depend on material from earlier chapters. When you want a change of pace, pick up one of the shorter readings for a break. Make sure you know all of the Top 5 and Core Content material really well.
| Important Note: The Ranking Table was originally based on an analysis of points-per-reading from past exams. This is no longer possible because exams have not been published since 2019-Fall and there have been very significant changes to the syllabus since then. The Ranking Table is now based roughly on the weights given in the syllabus, although that information is much less specific than what could be gleaned from past exams. It should still be helpful however in guiding your studying and directing your attention to the topics most likely to be tested. (Percentages given in the table below are approximates.) |
How to Use the Ranking Table
There are a lot of readings, so use the Ranking Table to organize the readings, set up a study schedule and determine how much time to spend on each article. Not all topics are tested equally, so they don’t deserve equal amounts of your attention. Unlike Exam 5, you don't have to read the articles in any particular order.
| Tip: Here's another way to use the table to your advantage. If you have more time to study, read a higher ranked article that requires more concentration. Tired after a long day at work? Get a lower ranked article out of the way. Click here for more tips on how to use the ranking table. |
| Note: Alice-the-Actuary and her minion Ian-the-Intern will appear from time to time to help you out. :-)
|
Ranking Table
Rank Reserving: Friedland Study Time Rank Pricing: Werner Study Time Rarely Asked Friedland01.Overview 30 minutes Rarely Asked Werner01.Intro 1 hr Rarely Asked Friedland02.ClmsProcess ½ day -- not on syllabus - Werner02.Manuals -- Bottom 20% Friedland03.Data ½ day Core Content Werner03.Data ½ day Rarely Asked Friedland04.Meetings 15 minutes Core Content Werner04.Exposures 2 days Bottom 20% Friedland05.Triangles 2 days Top 5! Werner05.Premium 1 week Bottom 20% Friedland06.Diagnostics 2 days Top 5! Werner06.LossLAE 1 week Top 5! Friedland07.Development 2-5 days Core Content Werner07.OtherExpenses 3 days Bottom 20% Friedland08.ExpectedClms 3 days Top 5! Werner08.Indication 3 days Core Content Friedland09.BornFerg 3 days Top 5! Werner09.RiskClass 3 days Top 5! Friedland10.CapeCod 3 days Bottom 20% Werner10.Multivariate 1 day Top 5! Friedland11.FreqSev 1 week Top 5! Werner11.SpecialClass 1 week Core Content Friedland12.CaseOS 1 week Bottom 20% Werner12.Credibility 3 days Top 5! Friedland13.BerqSherm 1 week Bottom 20% Werner13.Other 1 day Core Content Friedland14.Recoveries 2-3 days Core Content Werner14.Implementation 1 week Top 5! Friedland15.Evaluation 1 week Bottom 20% Werner15.Commercial 1-3 days Core Content Friedland16.ALAE 2-3 days Bottom 20% Werner16.ClaimsMade ½ day Core Content Friedland17.ULAE 2-3 days -- -- --
Other syllabus readings:
Rank Reserving: Other readings Study Time Rank Pricing: Other readings Study Time Rarely Asked SOP.UnpaidClms← removed from syllabus30 minutes Rarely Asked SOP.Ratemaking 30 minutes Bottom 20% ASOP12.RiskClass 1 hr Rarely Asked WernerA.Auto < 1 day Rarely Asked ASOP13.Trend 30 minutes Rarely Asked WernerB.Home 2 days Rarely Asked ASOP43.UnpaidClmEst 30 minutes Rarely Asked WernerC.MedMal < 1 day -- -- -- Core Content WernerD.WC 2 days -- -- -- Bottom 20% WernerE.Univariate 30 minutes -- -- -- Bottom 20% WernerF.Multivariate ½ day
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